There is arguably just one to take note of on the day, as highlighted in bold below.
That being for EUR/USD at the 1.1500 level. The expiries there are huge but don’t tie to any technical significance. Still, the size of the expiries in itself could act as a bit of a magnet in attracting some interest in terms of price action today. That as the dollar is seen recovering a little after being downed by USD/JPY intervention overnight.
As such, dollar sentiment and the broader risk mood remain bigger influences of price action despite the nature of the expiries above. Adding to the mix though is also potential month-end flows, so just be wary of that especially when we get closer to the London fix later. From earlier this week:
Besides that, there is also one for USD/JPY at the 160.00 level but it is one that shouldn’t really matter whatsoever. After Tokyo officials intervened yesterday, it’s still all about threats of further intervention at this stage. The April operation was spread out over the course of a few days. And if USD/JPY shows any propensity to try and negate the intervention effort from yesterday, we might see another round of operations by Japan’s ministry of finance in coming day(s). So, just be wary of that.
As such, the expiries for the currency pair are likely to have minimal or no impact whatsoever to end the week.
For more information on how to use this data, you may refer to this post here.
This article was written by Justin Low at investinglive.com.